According to the Icelandic Labour Force Survey the number of persons in the labour force in August 2015 was 197,300. Of those in the labour force 189,800 persons were employed and 7,500 persons were unemployed. The activity rate was 84.3%, the employment rate was 81.1% and the unemployment rate was 3.8%. Between August 2014 and 2015, the activity rate increased by 0.5 percentage points and the employment rate increased by 0.3 points. On the other hand the unemployment rate decreased by 0.9 points from 4.7% in August 2014.
Figure 1. Labour force August 2015
Figures may not add up because of rounding.
Seasonally adjusted unemployment was 4.2% in August
The seasonally adjusted data show that the number of people in the labour force was 195,300 in August 2015 corresponding to 83.7% activity rate. The number of unemployed persons, in August 2015, amounted to 8,200 and had increased by 500 since July. The unemployment rate was 4.2% in August compared to 4% in July. According to the seasonal adjustment the employment rate was 80.2% in August. Between July and August, the employment rate increased by 1.6 points and the unemployment rate increased by 0.2 points. The trend for seasonally adjusted data in the last six months shows a decrease by 0.1 percentage points in the unemployment rate and 0.4 points decrease for the last 12 months. The employment rate has increased by 0.7 points in the last six months and by one point in the last 12 months.
Implementation
August 2015 is divided into five weeks, from 3rd to 30th of August. The total sample size was 1,225 persons, 16–74 years, randomly chosen from the Population Register. When those who had passed away and those who were living abroad had been deducted from the sample, the net sample was 1,187 persons. In total the number of usable answers was 1,147 corresponding to 75.7% response rate. All figures have been weighted by sex and age groups. The confidence limit of the results on activity rate is ±2.3 points, employment rate is ±2.5 points and unemployment rate is ±1.4 points. Figures may not add up because of rounding.
| Table 1. Labour market in August - Original | ||||||
| CI | CI | CI | ||||
| 2013 | (±95%) | 2014 | (±95%) | 2015 | (±95%) | |
| Total 16-74 years | ||||||
| Activity rate | 82.4 | 2.1 | 83.0 | 2.4 | 84.3 | 2.3 |
| Employment rate | 78.8 | 2.2 | 79.1 | 2.6 | 81.1 | 2.5 |
| Unemployment rate | 4.4 | 1.3 | 4.7 | 1.5 | 3.8 | 1.4 |
| Hours of work | 40.8 | 1.2 | 41.3 | 1.3 | 40.7 | 1.3 |
| Labour force | 187,700 | 4,700 | 192,100 | 5,500 | 197,300 | 5,400 |
| Employed | 179,500 | 5,100 | 183,000 | 6,000 | 189,800 | 5,800 |
| Unemployed | 8,200 | 2,500 | 9,000 | 2,800 | 7,500 | 2,700 |
| Inactive | 40,100 | 4,700 | 39,400 | 5,500 | 36,700 | 5,400 |
| Est. population | 227,800 | • | 231,400 | • | 234,000 |
• |
| Table 2. Labour market last 6 months - Seasonal adjustment | ||||||
| Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | Aug-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.8 | 82.3 | 82.9 | 83.2 | 81.9 | 83.7 |
| Employment rate | 79.5 | 78.4 | 79.0 | 80.5 | 78.6 | 80.2 |
| Unemployment rate | 4.0 | 4.7 | 4.7 | 3.2 | 4.0 | 4.2 |
| Hours of work | 39.8 | 39.7 | 40.0 | 40.0 | 40.1 | 39.7 |
| Labour force | 191,800 | 192,200 | 194,500 | 190,700 | 190,700 | 195,300 |
| Employed | 184,100 | 183,100 | 185,400 | 184,500 | 183,000 | 187,100 |
| Unemployed | 7,700 | 9,100 | 9,100 | 6,100 | 7,700 | 8,200 |
| Inactive | 39,800 | 41,300 | 40,000 | 38,600 | 42,000 | 38,000 |
| Est. population | 231,600 | 233,500 | 234,500 | 229,200 | 232,700 | 233,300 |
| Table 3. Labour market last 6 months - Seasonal adjustment trend | ||||||
| Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | Aug-15 | |
| Total 16-74 years | ||||||
| Activity rate | 82.2 | 82.4 | 82.5 | 82.6 | 82.7 | 82.8 |
| Employment rate | 78.5 | 78.7 | 78.9 | 79.1 | 79.2 | 79.2 |
| Unemployment rate | 4.5 | 4.4 | 4.4 | 4.3 | 4.3 | 4.3 |
| Hours of work | 39.9 | 39.9 | 39.9 | 39.9 | 39.9 | 39.9 |
| Labour force | 191,600 | 192,100 | 192,500 | 193,000 | 193,400 | 193,800 |
| Employed | 183,000 | 183,600 | 184,100 | 184,600 | 185,000 | 185,400 |
| Unemployed | 8,500 | 8,500 | 8,400 | 8,400 | 8,400 | 8,400 |
| Inactive | 41,500 | 41,100 | 40,800 | 40,500 | 40,300 | 40,200 |
| Est. population | 233,100 | 233,200 | 233,300 | 233,500 | 233,700 | 234,000 |